The Ghana Stock Exchange has listed the first of a GH¢600 million bond raised by manufacturing firm, Kasapreko PLC onto the Ghana Fixed Income Market.

The GH¢150 million bond was 100% subscribed as the single largest capital raise on the market. 

The fund is expected to be used for expansion projects and other programmes outlined by the company in its long-term agenda.

Managing Director for Kasapreko PLC, Richard Adjei, in an interview with Joy Business on the trading floor of the Ghana Stock Exchange hinted that the move will boost investor confidence in the firm as well as support the growth of the Ghanaian economy.

The fund is being raised within three years with support from local banks and capital market operators.

This move by Kasapreko to list the bond on the GFIM underscores its commitment to growth and operational excellence within Ghana’s vibrant economic landscape.

The first tranche of GH¢150 million which was listed on February 19, 2024, makes it the single largest capital raise on the market by a local manufacturing firm.

“As the first manufacturing company to raise a corporate bond in Ghana, we are thrilled to embark on this momentous journey of listing our GH¢600 million bond and grateful for the confidence the market has shown in Kasapreko PLC. This strategic move not only underscores our unwavering commitment to sustainable growth but also signifies our confidence in Ghana’s vibrant economic eco-system” he noted.

Managing Director of the Ghana Stock Exchange, Abena Amoah, used the opportunity to invite other corporate bodies to use the capital market to diversify its fund portfolio.

Kasapreko has products sold worldwide under a variety of brands in the bitters, whiskey and other drinks category.

Source: myjoyonline.com